Based on a referral and the SEC’s further investigation, it was found that on 15 October 2021 OKX provided services for a digital asset trading system, facilitating the trading and exchange of digital assets while charging a fee of 0.1% of the trading value. Additionally, OKX solicited and promoted its services through its website and various social media channels, including Telegram under the account name “OKX TH”, Twitter (now X) under the name: “OKX Thai Community”, and Line OpenChat under the name: “Thai Community”.   

The OKX activities are liable to be an operation of digital asset exchange business under Section 3 of the Emergency Decree, for which OKX has not obtained a license, in violation of Section 26, and subject to offenses and penalties under Section 66 of the Emergency Decree.  

Additionally, it was found that OKX received assistance and support in promoting its services and sales promotion activities from nine individuals, namely:  
          (1) Mr. Sarun Boonmesrisanga, through Facebook Page and YouTube account: “ลองลงทุน”, and Discord Server account: “LONGLONGTHUN Community”;
          (2) Mr. Nut Joongwong, through Facebook Page and YouTube account: “พ่อบ้านคริปโต”, Discord Server account: “Moonstation” and Line OpenChat named “Exclusive MoonStation”;
          (3) Mr. Kritsana Kritsananuwat, through Facebook Page and YouTube account: “Srisiam”;
          (4) Mr. Smithi Charoenmin, through Facebook Page and YouTube account: “น้ายามพาเทรด”;  
          (5) Mr. Kittithat Benchacharoenpat, through Facebook Page: “I Learn A Lot: แชร์มุมมองด้านการลงทุน”, YouTube Account: “I Learn A Lot”, and Line OpenChat named: “Exclusive Wave125i”;
          (6) Mr. Saurawit Sanguanphokai, through Facebook Page, YouTube Account and Telegram account under the name: “Art of Crypto”;  
          (7) Mr. Akarawath Rujiruangchai, through Facebook Page: “Crypto Teller: บอกกล่าวเล่าคริปโต”, YouTube account: “cryptoteller007” and Discord Server account: “Mookata Trader Community”;  
          (8) Mr. Rachata Chuesaibua, through Facebook Page: “กราฟฟิ้ววว”, Line OpenChat named: “กราฟฟิ้ววว เดอะ คอมมูนิตี้”, and Discord Server account: “ห้องลับจับคลื่น”;      
          (9) Mr. Varut Vanichayakosol, through Facebook Page: “Insight On-Chain: ส่องข้อมูลออนเชน” and Line OpenChat named: “Insight On-Chain มาคุยกัน”.

The actions of these nine individuals increased OKX’s visibility and attracted more users to its services. As a result, their conduct constitutes assisting or facilitating OKX in operating a digital asset exchange without license, in violation of Section 26 of the Emergency Decree. This offense is subject to penalties under Section 66 of the Emergency Decree in conjunction with Section 86 of the Criminal Code.

The SEC has therefore filed the criminal complaint against OKX and the nine supporters with the ECD for consideration of further legal action. 

Following the criminal complaint filed by the SEC, the criminal enforcement process will proceed with an investigation by the inquiry official, a prosecution of the public prosecutor, and an adjudication of the court of justice, respectively. In this regard, the SEC will monitor progresses in the legal proceedings and will cooperate fully with relevant agencies to support legal enforcement under the Emergency Decree after the criminal complaint has been filed. 

The public and investors should exercise caution when using services from unlicensed digital asset businesses as they will not be protected under the law and may be exposed to risks of frauds and scams as well as the potential misuse of funds for money laundering by offenders. Investors can verify the list of digital asset business licensees on the SEC’s website at www.sec.or.th and SEC Check First application. Additionally, the list of individuals or entities not regulated by the SEC is available at the Investor Alert Section on the SEC’s website: https://market.sec.or.th/public/idisc/th/InvestorAlert.

 
To report any information regarding suspicious activities, please contact the SEC Complaint Center via Hotline 1207 or the SEC Official Facebook Page, or the SEC Live Chat on the SEC website for further investigation.